Mahajanangale,
So far, even though I felt, credit card is a waste, I never campaigned against it. But after being fatally deceived by cheats, I am going all out against this day light robbery.
Here's the sequence how i got duped by credit card marketing in State bank of India, Sahakaranagar.
I opened a fixed deposit in sahakaranagar - State bank of India.
Marketing Lady (Holding my acct opening form in hand): "Sir, we give free credit card to all FD holders"
ME: "I never need one, madam, thank you".
Lady: "Sir, its all free, and you need not pay a single paisa, we give this facility to all holders".... (more crap).
ME: "No madam, thanks, i never use it".
Lady: "Sir, if you don't use it, first year, no charges, you can surrender".
ME: "OK, fine, since you are insisting".
Sign, Sign and more sign
ME: " I don't have address proof right now, cant do anything about it"
Lady: "Its OK sir, we will verify"!
One month later, phone rings:
Caller: "Sir, I am calling up to verify for your credit card"
ME: "Tell me the terms first"
Caller: "What???? We are only verification, tell us your date of birth.."
ME: "Thank you, keep the card yourself"
Caller: "Sir, its for so and so offer, 1st year is free, etc etc"
ME: "Fine, let me give details"...
One week later:
Courier man: "Sir, am standing outside your gate"
ME: "Dude, but who are you?"
Courier man: "Sir, i have come to deliver credit card"
ME: "OK, come in"
Courier man: "Show me this, that, sign here etc etc"
ME: "OK, OK, OK " (thinking): "Why did i ever sign up?"
2 days later, phone rings:
Caller: "Sir, i am verifying details for your insurance policy for credit card"
ME: "Dude, hell with you, i never asked for an insurance policy"
Caller: "Sir, but its mandatory"
ME: "Keep the card with you"
Cut the phone.
1 week later (10 Feb 2011), phone rings:
Caller: "Sir, am Jayanthi, calling from so..."
ME: "yes"
Caller: "Congrats for your card, i will now tell you terms and condition"
ME: " go on"
Caller: "Sir, first year charges of Rs. 329 has been sent to you, you need to pay up before 25 Feb 2011"
ME (shocked) : "Hello, everyone so far told me its free.."
Caller (threatening voice): "Mr. Shivashankar, we take lot of effort to ensure that this information of cutting fees for first and second year is made known to you and you have signed it. Also if you don't pay up, your fixed deposit will not be released.."
This, my countrymen, is happening in the country where Gandhi was born!
From the sweet talking lady "Sir, Its absolutely free"...
To the threatening voice in the phone
"Mr. Shivashankar, Let me inform you that we take enough care to get your signatures, lock your fixed deposits"...
Hey Shiva, bumped into this space via FB update. You have been taken for a ride here, no doubt. But as a note, I must add that we usually do not care to read up stuff before we sign and that, in my experience, lands us in messy situations more often than not.
ReplyDeleteShiva, I was paying around 600 p.a. for my Citibank Credit Card. I discovered in 2006, Citibank had given their Credit Cards for free without any annual fee. Deepak told me to fight it out. I did and I am not paying anything. But I had no F.D. or any account with Citibank.
ReplyDeleteBut you are trapped.
@mamaji: Yes, mama, Certainly i have to fight it out, no other way.
ReplyDelete@Madhavi: When there is 100 of lines of agreement, we go by trust, i think. I did the same for my loans, office papers etc. Generally works, but never works for credit card, mutual funds, stocks etc i guess.
In General Management, there is a subject called "General Contract Knowledge". The whole subject tells us to READ & UNDERSTAND every line of the contract before signing. Also, if there ANY ambiguity, that has to be clarified it there itself, before signing. Else, we end up in such traps.
ReplyDelete